Millennium Management LLC Has $24.94 Million Stake in Koninklijke Philips (NYSE:PHG)

Millennium Management LLC reduced its stake in Koninklijke Philips (NYSE:PHG - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 985,063 shares of the technology company's stock after selling 27,760 shares during the quarter. Millennium Management LLC owned approximately 0.10% of Koninklijke Philips worth $24,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its position in Koninklijke Philips by 4.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the technology company's stock worth $226,000 after acquiring an additional 384 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Koninklijke Philips by 3.9% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 11,401 shares of the technology company's stock valued at $289,000 after purchasing an additional 427 shares during the period. Farther Finance Advisors LLC raised its position in shares of Koninklijke Philips by 37.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,150 shares of the technology company's stock valued at $54,000 after buying an additional 582 shares during the last quarter. First Affirmative Financial Network grew its position in Koninklijke Philips by 5.9% during the fourth quarter. First Affirmative Financial Network now owns 10,950 shares of the technology company's stock worth $277,000 after buying an additional 611 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in Koninklijke Philips by 5.1% during the fourth quarter. Pzena Investment Management LLC now owns 13,683 shares of the technology company's stock valued at $346,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 13.67% of the company's stock.

Koninklijke Philips Price Performance

Shares of PHG stock opened at $23.85 on Tuesday. The stock's fifty day simple moving average is $24.52 and its 200 day simple moving average is $25.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.74. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of -28.39, a P/E/G ratio of 0.82 and a beta of 0.81. Koninklijke Philips has a one year low of $21.48 and a one year high of $32.91.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.13. The company had revenue of $4.31 billion during the quarter, compared to analysts' expectations of $4.10 billion. Koninklijke Philips had a positive return on equity of 10.85% and a negative net margin of 3.88%. The business's revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.21 earnings per share. On average, analysts expect that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.886 per share. The ex-dividend date is Tuesday, May 13th. This represents a yield of 2.9%. Koninklijke Philips's dividend payout ratio is 174.42%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Sanford C. Bernstein raised Koninklijke Philips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 18th. StockNews.com lowered shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a report on Monday. BNP Paribas raised shares of Koninklijke Philips from a "neutral" rating to an "outperform" rating in a report on Tuesday, February 25th. Finally, UBS Group raised shares of Koninklijke Philips from a "neutral" rating to a "buy" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Koninklijke Philips Profile

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.

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